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Hedge funds lost 2.83 per cent in January according to the Barclay Hedge Fund Index compiled by BarclayHedge – the worst start to a new year in eight years since the Index dropped 3.26 per cent in January 2008.
“Slowing fourth quarter growth in the US, heightening concerns about the Chinese economy, and a precipitous decline in energy prices all weighed heavily on investor sentiment," says Sol Waksman (pictured), founder and president of BarclayHedge.
Overall, 15 of Barclay’s 18 hedge fund indices had losses in January. The Healthcare and Biotechnology Index was hit the hardest, dropping 7.10 per cent in one month.
- 19/02/2016
Bedell Cristin has strengthened its corporate and banking team through a senior appointment in Guernsey, with Ann Halliday, an experienced lawyer in the offshore market and a qualified banker, joining the firm as a senior associate.
Halliday was most recently employed at a senior position at a large law firm in Guernsey and specialises in legal advice for the banking, funds and corporate sector. She entered the legal profession in 1995 and has worked both in-house and in general practice, focusing primarily on banking and corporate law. Prior to that, she had a career in financial services including a significant
- 19/02/2016
Modus Asset Management, a Hong Kong-based investment manager, has selected Wells Fargo Global Fund Services to provide daily fund administration and a comprehensive outsourced middle and back office operations solution.
“Wells Fargo Global Fund Services is well-known for its expertise in administering equity long-short strategies,” says Modus’ Chief Investment Officer Yeeman Chau. “In addition, the outsourced operations team is able to support the full range of back office activities in our portfolios throughout the trade lifecycle, which helps us scale the business in a controlled manner. We have developed a strong relationship with Wells Fargo this past year and we
- 19/02/2016
The London Metal Exchange (LME) has unveiled the newly built Ring (pictured), the Exchange’s open-outcry trading floor, followings its successful relocation to 10 Finsbury Square in London on 1 February 2016.
The Ring has provided a transparent and robust price-discovery process for the global metals industry for 139 years. Its move to a new building at Finsbury Square is the next step in the modernisation of the metals exchange, which was acquired by HKEX in 2012.
“We’ve demonstrated our commitment to the Ring, a long-standing and trusted price-formation venue, by moving it with us to this exciting new location.
- 19/02/2016
- 19/02/2016
Industry veteran Tom O’Mara (pictured) has joined the Advisory Board of electronic trading network AX Trading.
O’Mara brings a breadth and depth of experience and expertise to AX. He began his career trading Convertible Securities at Lehman Brothers from 1986-1991, where he was part of the team that transformed its retail-based distribution desk into an institutional market maker and underwriter.
In 1991, O’Mara joined Credit Suisse First Boston and was a pivotal team member in the rebuilding of First Boston's convertible franchise. As part of the successful Equity Derivatives and Convertible Securities Unit's management team, O’Mara’s responsibilities grew from
- 19/02/2016
SEI has appointed Brent Bell (pictured) as Head of Asset Management Distribution (AMD) in Asia. This appointment supports SEI's commitment to Asia and underscores ambitions to provide best-in-class solutions for Asia's investors.
In this role, Bell will be responsible for developing and maintaining strategic relationships with large distribution partners, driving sales and revenue growth, and managing AMD's strategic sales plan in Asia. He will be based out of SEI's Hong Kong offices and report to Kevin Barr, Head of SEI's Investment Management Unit.
"Brent's expertise in asset management and previous work building out businesses in Asia makes him the
- 18/02/2016
The Hedge Fund Association (HFA) has welcomed the passing of the Fair Investment Opportunities for Professional Experts Act by the US House of Representatives which incorporates the addition of a knowledge and education-based category of accredited investors.
The House bill would amend Section 2(a)(15) of the Securities Act of 1933, the definition of "accredited investor" that determines which investors may participate in private securities offerings not registered with the US Securities and Exchange Commission (SEC). The HFA, an international not-for-profit organisation representing the interests of investors, hedge funds and service providers, believes that the bill provides a much needed practical update
- 18/02/2016
Broadridge Financial Solutions has enhanced its corporate governance solution offering in Europe by taking a minority stake and entering into an exclusive distribution and marketing alliance with AMA Partners, BV (AMA).
AMA is a Netherlands-based firm and provider of DirectorInsight, an innovative and powerful analytics platform that offers data and analytical tools for independent analysis of corporate governance and executive compensation. The deal expands Broadridge's corporate governance solution set and data capabilities to give corporations and institutional investment firms in key European markets access to an expanded, customisable data and analytics platform.
DirectorInsight is a one-stop, interactive online corporate
- 18/02/2016
- 18/02/2016
Kyc.com, a joint venture between Markit and Genpact has expanded its service to Hong Kong and Singapore. This roll out is in addition to jurisdictional coverage in the US, UK and Australia which launched in 2014.
Standard Chartered, the UK headquartered bank with a large footprint in Asia, is supportive of kyc.com and in the process of joining the service. In addition, Deutsche Bank, HSBC, Morgan Stanley and UBS are already signed up and will be using the service to support their due diligence in the region. Over 1,500 buyside firms and corporations, representing 37,000 legal entities are also using
- 18/02/2016
REDI Global Technologies has partnered with OpenFin, a provider of HTML5 container technology. Through the relationship, REDI and its partners will leverage OpenFin's technology to deploy new web-based applications within trade management platforms.
As a result, users will be able to access native REDI and third-party content in a much more flexible and efficient manner.
"OpenFin is fundamentally changing the way applications are written, deployed and run within the financial community," says REDI CTO Mark Etherington (pictured). "Ten years ago, the idea that you could natively integrate web-based applications from multiple providers within a legacy environment in a way
- 18/02/2016
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